Accretive

Constellation Energy subsidiary Constellation NewEnergy Gas Division (CNE Gas) has completed the acquisition of Cornerstone Energy Inc., creating one of the nation’s largest natural gas marketing companies.

Penn Virginia Resource Partners LP said Friday its subsidiary PVR Midstream LLC has acquired pipeline and compression facilities in Texas and Oklahoma from Transwestern Pipeline Co. LLC for $15 million in cash. The acquisition consists of 115 miles of 12- and 16-inch pipelines and 4,400 horsepower of compression and related facilities located in Hemphill and Lipscomb counties in Texas and Beaver, Ellis, and Roger Mills counties in Oklahoma.

With plans to announce “significant, accretive acquisitions” in the next one to two months, Kinder Morgan Inc. (KMI) predicted last week that it will meet or beat the consensus 2001 estimates for the second quarter and the rest of the year, expecting to do 40% better in earnings per share (EPS) over 2000 because of strong internal growth.

With plans to announce “significant, accretive acquisitions” in the next one to two months, Kinder Morgan Inc. (KMI) predicted Monday it will meet or beat the consensus 2001 estimates for the second quarter and the rest of the year, expecting to do 40% better in earnings per share (EPS) over 2000 because of strong internal growth.

Merrillville, IN-based NiSource confirmed yesterday what someobservers have suspected for some time: that Columbia EnergyGroup’s failed bid for Consolidated Natural Gas was partly a veiledattempt to protect itself from being targeted by a buyer. NiSourceannounced that it has had an offer for Columbia on the table sinceApril 1 but has been rebuffed repeatedly and is making its hostilebid public in an effort to pressure Columbia’s board.